The present invention relates to a bit holder which contains a movable magnet such that a bit inserted in the bit holder may be magnetized or demagnetized without removing it from the bit holder.
Screws are commonly used as fasteners in a variety of applications. Tools such as drills have been developed for placing or removing screws. However, the tool may slip off the head of the screw, potentially damaging the base material or causing injury. In addition, the screw may be lost or damaged. A magnetic bit or bit holder may be used to keep the screw in the proper position on the tip of the bit as the screw is placed. A magnetic bit or bit holder may also be used to retain the screw on the tip of the bit as the screw is removed, facilitating the screw's reuse or proper disposal. A magnetic bit or bit holder may also allow the operator to drive the screw with one hand, facilitating work in tight places or allowing the operator to perform multiple tasks at the same time.
However, if the magnetic bit or bit holder is used to place a screw in a metallic base material, metal splinters may collect on the bit, making it difficult to fit the next screw onto the tip of the bit. Metal splinters may also come from the screw if the bit slips after the screw is driven home but before the operator stops the tool. For example, self-tapping screws, which are frequently used in the construction industry, generate significant quantities of such splinters. Removal of these splinters is time-consuming, reducing efficiency and productivity, and often requires that operators remove their work gloves in cold, wet, or hazardous locations. Allowing the accumulated metal splinters to remain on the bit may cause the bit to slip off the head of the screw, resulting in damage to the bit or tool, damage to the base material, or injury.
As can be seen, there is a need for a bit holder that provides the advantages of a magnetic bit while allowing the safe and quick removal of metal splinters that accumulate on the bit as screws are placed.